Vietnam is set to rank prominently among Asia’s largest economies, standing out in a region driven by rapid growth and dynamic development.
The statistical visualization platform Seasia Stats recently released the graphic “Asia’s 15 Largest Economies in 2025”, based on projections by the International Monetary Fund (IMF). “Looking ahead to 2025, Asia will continue consolidating its position as a global economic powerhouse,” the platform stated.
Top Economies in Asia
According to the data, China leads the region with a projected GDP of over $19,500 billion, maintaining its dominance. Japan follows, albeit significantly behind, with an economy reaching $4,400 billion. India is close behind Japan with a forecast of $4,300 billion.
South Korea and Indonesia round out the top five with GDPs of $1,900 billion and $1,500 billion, respectively. Notably, Indonesia is Southeast Asia’s largest economy, driven by abundant natural resources and a rising middle class.
Vietnam’s Position in Asia
Vietnam, ranked 12th overall and 4th in Southeast Asia, is projected to achieve a GDP of $506 billion, just behind the Philippines at $508 billion. Seasia Stats highlights Vietnam’s impressive economic growth, fueled by its manufacturing boom and strong foreign investment.
- Singapore remains Southeast Asia’s second-largest economy at $562 billion, ranking 9th in Asia.
- Thailand follows closely at $545 billion, securing the 10th position.
- Malaysia, with $488 billion, continues to grow through its electronics and palm oil industries.
Other notable economies include Bangladesh and Iran, which round out the list at $482 billion and $464 billion, respectively.
Vietnam’s Economic Targets: Striving for 8% GDP Growth in 2025
Vietnam’s economy has demonstrated resilience and robust performance, with ambitious growth plans for the future. Speaking in December, Prime Minister Pham Minh Chinh affirmed that Vietnam is on track to meet and exceed all 15 major economic targets for 2024.
Key Highlights of 2024:
- GDP Growth: Estimated to exceed 7%, making Vietnam one of the fastest-growing economies in the region.
- Inflation: Controlled below 4%, ensuring macroeconomic stability.
- Trade Surplus: Import-export turnover reached $715 billion as of November, with a trade surplus of $23 billion—a record high.
- Rice Exports: Surpassed 8.5 million tons in the first 11 months, generating $5.3 billion, up significantly year-on-year.
- National Brand Value: Reached $507 billion in 2024, ranking 32nd globally.
The Prime Minister emphasized prioritizing growth, targeting a GDP growth rate of 6.5-7% in 2025, with a stretch goal of 8%. This ambitious target is seen as critical to building momentum for the country’s long-term development strategy through 2030.
Opportunities Driving Growth
Luong Van Khoi, Deputy Director of the Central Institute for Economic Management (CIEM), expressed optimism about Vietnam achieving the 8% target. Key drivers include:
- Free Trade Agreements (FTAs): Vietnam’s extensive FTA network, particularly new-generation agreements, will continue to fuel export growth.
- Foreign Direct Investment (FDI): High-quality FDI is expected to flow into emerging industries such as semiconductors and artificial intelligence.
- Digital Transformation & AI: The upcoming AI Decree and regulations on digital transformation will create a legal framework to accelerate the adoption of advanced technologies.
- Public Investment: Large infrastructure projects, including the North-South railway and potential nuclear power developments, will serve as new economic growth engines.
Vietnam’s rapid economic expansion places it among Asia’s leading economies, a testament to the country’s strong policy framework, investment climate, and growth-oriented reforms. With a focus on manufacturing, foreign investment, and digital transformation, Vietnam is poised to achieve robust and sustainable growth in the years ahead.
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Source: Vietnam Insider